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REGULAR MEETING APRIL 27, 2006 <br />each home will be $65,000. The total estimated dollar value of the project is $520,000.00 <br />This project helps promote future improvements and development in the area. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this Resolution, Councilmember Pfeifer made a motion to adopt this <br />Resolution. Councilmember Kelly seconded the motion which carried and the Resolution <br />was adopted by a roll call vote of seven (7) ayes. <br />RESOLUTION NO. 3578-06 A RESOLUTION OF THE COMMON COUNCIL <br /> OF THE CITY OF SOUTH BEND <br /> DESIGNATING CERTAIN AREAS WITHIN THE <br /> CITY OF SOUTH BEND, INDIANA, <br /> COMMONLY KNOWN AS 2820 VIRIDIAN DR. <br /> AN ECONOMIC REVITALIZATION AREA FOR <br /> PURPOSES OF A FIVE (5) YEAR PERSONAL <br /> PROPERTY TAX ABATEMENT FOR MACK <br /> TOOL & ENGINEERING, INC. <br />WHEREAS, a petition for personal property tax abatement consideration has been <br />filed with the City Clerk for consideration by the Common Council of the City of South <br />, <br />Bend, Indiana, requesting that the area commonly known as 2820 Viridian Dr. South <br />Bend, Indiana, and which is more particularly described as follows: <br />Parcel of land, in the Southeast quarter of Section 28 of the Airport <br />. <br />Industrial Park containing approximately 1.75 acres <br />and which has Key Number 25-1010-040029 designated as an Economic Revitalization <br />Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal <br />Code Sections 2-76 et seq., and; <br />WHEREAS, the Department of Community and Economic Development has <br />concluded an investigation and prepared a report with information sufficient for the <br />Common Council to determine that the area qualifies as an Economic Revitalization Area <br />under Indiana Code 6-1.1-12.1, et seq., and South Bend Municipal Code Sections 2-76, et <br />seq., and has further prepared maps and plats showing the boundaries and such other <br />information regarding the area in question as required by law; and <br />WHEREAS, the Community and Economic Development Committee of the <br />Common Council has reviewed said report and recommended to the Common Council <br />that the area qualifies as an Economic Revitalization Area. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of <br />South Bend, Indiana, as follows: <br />SECTION I. The Common Council hereby determines and finds pursuant to Indiana <br />Code 6-1.1-12.1-4.5 et seq., that: <br />a. The estimate of the cost of the new manufacturing equipment is <br />reasonable for equipment of that type; <br />b. That the estimate of the number of individuals that will be employed or <br />whose employment will be retained by the Petitioner can reasonably be expected to result <br />from the proposed installation of new manufacturing equipment; <br />c. That the estimate of the annual salaries of those individuals that will be <br />employed or whose employment will be retained by the Petitioner can be reasonably <br />expected to result from the proposed installation of new manufacturing equipment; <br />14 <br /> <br />